The Asset Recovery and Management Agency, the Prosecutor General's Office of Ukraine and representatives of top Ukrainian law firms and international legal organisations took part in the "WHITE-COLLAR CRIME FORUM", organised by the Yuridicheskaya Praktika edition. The event was attended by Deputy Head of ARMA Pavlo Velykorechanin and Head of the Asset Finding and Tracing Department of ARMA Vitalii Chubaievskyi.

Pavlo Velykorechanin presented a report on ‘Tracing Assets Withdrawn from Ukraine: Practical Challenges and Difficulties of Recovery’. In particular, he spoke about cooperation with global and regional asset recovery networks to make the Agency's work more effective. He also highlighted the challenges in returning assets to Ukraine and spoke about successful high-profile cases that ARMA staff has managed to implement.

‘ARMA's priority is a proactive policy in addressing the extremely complex tasks related to the efficiency of management, tracing, finding and recovery of assets, so that the state treasury receives more revenues during the wartime,’ said Pavlo Velykorechanin.

In turn, Vitalii Chubaievskyi spoke about several successful cases of cooperation with law enforcement bodies in the investigation of criminal proceedings involving cryptocurrency assets. He noted that applying the mechanisms for transferring virtual assets to ARMA, the National Agency will be able to take measures to manage such assets. To do this, it is necessary to amend the tax and civil legislation of Ukraine.

‘Regulation of the legislation is an extremely urgent issue for us today, as we are already cooperating with top crypto exchanges to identify assets. At the same time, we need legislative regulation of these issues for the effective management of seized digital assets. The Agency has already developed and is successfully implementing mechanisms for tracing and identifying virtual assets, but for its effective management, we need to amend the legislation,' Vitalii Chubaievskyi emphasised.